Bob Sillerman’s extended courtship of SFX Entertainment, the world’s largest producer of electronic dance music concerts, took another psychedelic turn Monday.

Shares of the New York company fell 4.3 percent, to $1.33 — following Sillerman’s move Friday to walk away from his $5.25 a share bid for the 62 percent of the company he doesn’t already own.

Shares traded at $4.29 when the executive made the offer May 26.

Despite walking away amid a crushing tumble in the stock price, Sillerman said Monday he’ll continue to work with a special committee set up to oversee SFX’s sale, “as it seeks to obtain the best possible price.”

But that left many followers of America’s most dedicated rave promoter wondering: The best price for whom?

The same committee, after all, announced on Aug. 14 that it would entertain takeover offers for SFX until Oct. 2.

The extension, it said, was to give potential bidders a chance to assess SFX’s performance throughout the peak electronic dance music season — although critics noted the extension simultaneously freed Sillerman from a binding take-private agreement and a $15 million breakup fee.

“A lot of enigmatic events surround this company,” said one analyst. “Some of this is due to Sillerman’s great friendship with much of the board.”

For Albert Fried analyst Rich Tullo, the smoke and mirrors characteristic of all transactions involving serial deal-maker Sillerman are, in this case, obscuring SFX’s rightful valuation. Recent transactions of comparable festivals fetched about $175 in cash per attendee, he said.

That suggests the 3.8 million attendees at SFX events last year warrant a market cap of $665 million and, with the addition of debt, an enterprise value of $931 million. Yet Monday’s actual market cap of $130 million and enterprise value of $403 million weren’t even close to industry norms.

“We threw in a 20 percent discount and still got a stock worth $6 per share,” Tullo said